SPY Weekly Options Decembet 7th

Slightly Bearish this week. Monday-Tuesday looking to SELL Calls and BUY Puts if price targets green triangle. If price breaks out above channel, I will BUY Calls. If price breaks below the bearish channel , I will adjust Put BUYING in deeper out-of-the-money puts.

A few conditions or options to trigger a Call play or Put play with a longer trending Call play. Out-of-the-money Options .01 to .04 per contract, 900 to 280 contract options (100 shares per contract); .05 to .12, 250 to 100 contract options .12 to .25 100 to 50 contract options.

Some rules: Do not hold contracts when nearing in-the-money. Rollover Calls and or Puts if pattern breaks or breaks down. If buying or selling options after mid-day trade on expiration day, execute trades within .50 of price target and bump up/down .50 if S&P is on a run or breaks given the adequate time (more than 40 mins. until expiration unless rare case extreme high implied volatility- i.e. 08-09 crash/flash crash/US downgrade).

If all else stop trading to rest and rethink strategy. *These are high risk trades. Only risk very little and reap big rewards if correct.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.